Tag: growth

Industrial giant ABB is reporting a 3 per cent growth in total orders across its operation, but most of it seems to be coming from robotics.

Net income was $525 million – for the second quarter ending July 6. Gross profit, however, was down 5 per cent, and was only $1 billion. Total revenues were up 1 per cent at almost $8.5 billion.

ABB CEO Ulrich Spiesshofer says: “In Q2, ABB continued to build its growth momentum as our targeted initiatives are delivering. Order growth was broad-based and across all regions.

“Our industry-leading digital offering, ABB Ability, is taking off and starting to contribute to growth.

“Operational performance in the power grids and industrial automation divisions was solid in the quarter. Electrification products and robotics and motion improved margins sequentially, but were not able to fully compensate commodity price headwinds and overcapacity during the quarter. Continue reading Robotics and automation news is good for ABB, says CEO

The global market for agricultural robots is forecast to exceed $5 billion by 2024, according to a report.

The Global Agriculture Robots Market Report, published by Variant Market Research, predicts the global market will reach $5,214 million by 2024 from $968 million in 2016 – growing at an annual rate of 23.4 per cent from 2016 to 2024.

Government incentives and adoption of new technologies are driving the growth of the Malaysian automation and control systems market, according to a new report.

The Malaysian automation and control systems market, one of the biggest for suppliers, is stable and growing, says the study by Frost & Sullivan, which projects the market to be worth more than $409 million in the next four years.

A robot operates at a production line during a tour of an REC solar panel manufacturing plant in Singapore. Reuters / Edgar Su

By Henning Gloystein and Vera Eckert, Reuters

Investors are increasingly excited about the prospects for much faster growth in the solar power industry in Southeast Asia, which has until now been a backwater for renewable energy.

They say that the region is in a perfect position to benefit from rapidly declining prices in solar panels. It has strong economic growth, relatively high costs of electricity and a shortage from traditional sources, undeveloped infrastructure in more remote areas, plenty of sunshine, and backing for more renewable energy from many of Southeast Asia’s governments.

“Dramatically falling costs for solar energy technologies means businesses and governments are choosing renewable energy not for environmental reasons but for economic ones,” said Roberto De Vido, spokesman for Singapore-based Equis, one of Asia’s biggest green energy-focused investment firms with $2.7 billion in committed capital. “It simply makes good business sense. And that’s a trend that’s not going to change.” Continue reading Solar power revolution ‘unavoidable’ in Asia, says industry expert

It’s not one of the most famous exhibitions in the world, and not the biggest, but that’s probably appropriate for EPHJ, because it’s all about small things, or – more accurately – what’s called the “microtechnology” sector.

Microtechnology includes such things as watchmaking, jewellery making, and precision instrumentation for medicine, all of which are relatively large business sectors in Switzerland, where EPHJ is being held, on 20-23 June 2017 – Geneva, to be exact.

Mobile Industrial Robots, a developer and manufacturer of autonomous mobile robots, claims it has seen “an astounding 500 percent growth in sales” in 2016, with over 200 MiR100 robots and accessories installed in more than 30 countries.

The company says it has an “ambitious” plan, and has recently expanded its global presence, establishing regional offices in New York and Shanghai.

With substantial increases in hiring in 2016, MiR also tripled the size of its Denmark headquarters, relocating to a new location that will support its ongoing expansion.

lockPoland is this year’s partner country for Hannover Messe, the world’s most influential industrial trade show.

Last year’s partner country was USA, and President Barack Obama was the guest of honour. The year before that, it was India, and Prime Minister Narendra Modi, welcomed as usual by German Chancellor Angela Merkel.

Company is expecting “year on year double digit growth” in machine vision, robotics and artificial intelligence over the next decade

Industrial Vision Systems, a supplier of machine vision solutions to industries including automotive, medical devices, electronics, food and drink, and packaging, has relocated into a new facility – custom designed to its own specification – in order to fulfil its ambitious expansion plans.

Having grown “significantly” over the course of the past 16 years, Industrial Vision Systems has now made the move to its brand new 10,000 sq ft premises at the prestigious Harwell Science and Innovation Campus in Oxfordshire which will allow it to grow further and capitalise on new, emerging markets.